EURO, JAP YEN and EURO-YEN
Read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY by registering to our newsletter.EURO, JAP YEN and EURO-YEN
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Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below
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USD-CHF @ 1.1010/15...Resistance at 1.1050-55
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R: 1.1050-55 / 1.1080-90
S: 1.0960 / 1.0936
USD-CHF had a fall yesterday, however it was relatively muted. Now it is expected to be lackluster in the next few days, with selling still expected on rallies. The range which is likely to prevail over the next few days is between 1.0887 on the downside and 1.1170 on the upside. Currently the pair is in middle of this range.
For today the Support is expected at 1.0960-50. Below that the Support would be at 1.0936, the statistically projected Max Low for the day. On the upside the Resistance is at 1.1050-55, on the small trendline on the 4-Hourly joining the highs of 1.1248 (16-Nov) and 1.1074 (26-Nov). A rally above that may lead to a test of 1.1080-90. Note that the statistically projected Max High for the day is at 1.1050. We have no trades currently.
GBP-USD @ 2.0679/84....Resistance near 2.0760
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R: 2.0760-70 / 2.0810
S: 2.0650 / 2.0590
GBP-USD had a sharp fall during the day from a high of 2.0758, and with that we were stopped out at 2.0680, long which was entered at 2.0744.
Importantly, GBP fell from near 2.0760, which was mentioned as range (of 2.0766 and 2.0450) Resistance yesterday. As such, that is likely to be important for later today as well. A rally above that could lead to a rally towards 2.0800 or higher. On the downside the Support is at 2.0650 and then at 2.0590, which falls on a trendline on the 4-Hourly joining the lows of 2.0353 (16-Nov) and 2.0518 (23-Nov). The bias for the pair is cautious, and selling could be considered near 2.0760, with small SL above 2.0800 targeting 2.0600.
AUD-USD @ 0.8762/66....Holding Short for Long term
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R: 0.8810 / 0.8840
S: 0.8730 / 0.8674
AUD-USD has displayed sharp volatility over the last 24 hours as it initially fell to a low of 0.8668 earlier and then has rallied back to 0.8816 in the day. A fall once again has been seen. This sharp volatility is directly a result of carry-unwinding and then rewinding. The volatility is likely to continue over the next couple of days.
The immediate Support for the pair is at 0.8730. Below that the Support would be at 0.8674, the statistically projected Max Low for the day. On the upside the Resistance is at 0.8810 and then at 0.8840. We are holding a long term Short position currently, with a reduced stop loss.
Holding (in Long-term book):
AUD 10K Short at 0.8724, SL 0.8924, TP 0.8500
Happy Trading!







